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Strategy Briefing

Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks

Aug 2016

US$1,325

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About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Substitution for other snacks, negative health perceptions and a slowdown in growth in promising markets threatens to undermine the global chocolate confectionery market. With more snacks now available, chocolate is losing its dominant position as the default snack for many. This threat brings about opportunities that may cause a permanent shift in how chocolate is consumed around the world, with the product becoming more visible in the markets of Asia while becoming less of an impulse choice

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Chocolate faces a tipping point

This is an exciting time for the chocolate confectionery market, but only as a result of the difficulties it faces -the perpetual slowdown in the West is now being imitated in some markets such as China. Companies are slowly dealing with the challenges they face, but can expect a low growth environment for some time to come.

Retail environment will polarise in the next five years

Specialist chocolate stores are evolving from a marketing gimmick to a legitimate source of sales for many manufacturers. Ferrero and Lindt have been particularly proactive in pushing their retail divisions, with the latter’s shop turnover increasing by 20% in 2015. Alongside this, more niche chocolate products will be available in high-spend chocolate markets, leading to a more fragmented competitive landscape.

Greater competition from new snacks provides existential threat to chocolate in the West

Negative health connotations continue to undermine chocolate sales in Western Europe and North America. There are a wealth of new snacks such as energy bars, nuts and meat snacks, which have managed to attract audiences looking for healthy alternatives to confectionery. These products are here to stay and will make it difficult for chocolate to grow, unless it can tap into local health trends.

Chocolate will continue to have a limited audience in the Middle East and Asia

Relative to other snacks, chocolate is beyond the price range of many in markets such as India, China and the Middle East. This will not change any time soon. Players with a small presence will need to target second-and third-tier cities, where newly-formed middle classes have developed, in order to gain market share. That said, targeting these cities is fraught with risks, as witnessed by Hershey’s acquisition of Shanghai Golden Monkey.

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Introduction

Scope

Key findings

Tipping point in global chocolate market

Global Overview

Chocolate remains the snack of the wealthy

Global overview

Volume slowdown in China and Brazil; West also struggles

Consumption slowdown but opportunities in Middle East and Asia

Tablets and countlines remain most lucrative chocolate products

Tablet sales show the West’s increasingly adventurous palate

Premium the name of the game in the West

Affordability a key issue in fast-growing chocolate markets

Mondelez the leading company in more markets…

…but Mars’ greater presence in more markets gives it global lead

Might the spectre of Brexit significantly impact sales of chocolate?

Challenges in the Global Market

Cocoa price increases place pressure on unit prices

Supply chain issues present long-term problems

Challenges in the global market

Retail environment growing more challenging

D iscounters could be disruptive force in core chocolate markets

Are chocolate buyers living a little less impulsively?

Mars, Nestlé and Hershey the most exposed to an impulse decline

Slowdown in Brazil and Russia; potential for further decline in West

Taxation: Another potential obstacle to chocolate’s growth?

Solutions

Stepping away from chocolate

Branded stores: More than a marketing gimmick?

Could the premium segment become too saturated?

Will heat resistance be the battleground for chocolate?

Re-size and reformulate: Manufacturers adapt to price pressures

Outlook

New chocolate consumers the focus in high-growth markets

Early birds will catch the worm in secondary and tertiary cities

OUTLOOK

Large manufacturers must increase chocolate’s appeal

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market Overlap

Treemap

Overlap Matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model

Soft drivers and the Industry Forecast Model

Growth decomposition explained

Significance and applications for growth decomposition

Key applications for Industry Forecast Models

Why buy this report?

Want to find out more about this report?

Request more information

Megatrends

Strategy Briefing

Global Chocolate Confectionery Overview: Challenges, Opportunities and Risks

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Chocolate faces a tipping point

Retail environment will polarise in the next five years

Greater competition from new snacks provides existential threat to chocolate in the West

Chocolate will continue to have a limited audience in the Middle East and Asia

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Tipping point in global chocolate market

Global Overview

Chocolate remains the snack of the wealthy

Global overview

Volume slowdown in China and Brazil; West also struggles

Consumption slowdown but opportunities in Middle East and Asia

Tablets and countlines remain most lucrative chocolate products

Tablet sales show the West’s increasingly adventurous palate

Premium the name of the game in the West

Affordability a key issue in fast-growing chocolate markets

Mondelez the leading company in more markets…

…but Mars’ greater presence in more markets gives it global lead

Might the spectre of Brexit significantly impact sales of chocolate?

Challenges in the Global Market

Cocoa price increases place pressure on unit prices

Supply chain issues present long-term problems

Challenges in the global market

Retail environment growing more challenging

D iscounters could be disruptive force in core chocolate markets

Are chocolate buyers living a little less impulsively?

Mars, Nestlé and Hershey the most exposed to an impulse decline

Slowdown in Brazil and Russia; potential for further decline in West

Taxation: Another potential obstacle to chocolate’s growth?

Solutions

Stepping away from chocolate

Branded stores: More than a marketing gimmick?

Could the premium segment become too saturated?

Will heat resistance be the battleground for chocolate?

Re-size and reformulate: Manufacturers adapt to price pressures

Outlook

New chocolate consumers the focus in high-growth markets

Early birds will catch the worm in secondary and tertiary cities

OUTLOOK

Large manufacturers must increase chocolate’s appeal

Appendix: Competitor Analytics

Competitor Analytics tool

Overview

Competitors

Market Overlap

Treemap

Overlap Matrices

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model

Soft drivers and the Industry Forecast Model

Growth decomposition explained

Significance and applications for growth decomposition

Key applications for Industry Forecast Models

Why buy this report?

Want to find out more about this report?

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